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Chiefs, Dwayne Bowe agree to five-year deal

The Chiefs and Dwayne Bowe agreed to a five-year deal. (Jason Miller/Getty Images)

The Kansas City Chiefs and wide receiver Dwayne Bowe reached agreement on a five-year deal Monday, allowing the team to use the franchise tag on offensive tackle Branden Albert, reports ESPN.com.

Financial terms were not disclosed for Bowe.

Bowe, 28, was the Chiefs franchise player last season but did not report to training camp until August. He eventually signed the tender, worth $9.5 million.

Bowe caught 59 passes for 801 yards and three touchdowns last season for the Chiefs, who own the first overall pick in next month's NFL Draft. The Chiefs had until today to tag Bowe again, which would have cost the team $11.4 million.

The Chiefs also agreed to a five-year, $18.75 million deal with punter Dustin Colquitt. Colquitt will receive $8.9 million in guaranteed money and it makes him the highest paid punter in the NFL.